Common use of Conversion Privilege; Restrictive Legends Clause in Contracts

Conversion Privilege; Restrictive Legends. (a) Subject to the provisions of ARTICLE IX, the Securities shall be convertible, at any time, in integral multiples of $1,000 principal amount, into shares of Common Stock in accordance with this ARTICLE IX. (b) The Company shall not issue fractional shares of Common Stock upon conversion. In the event of fractional shares, the Company shall pay a cash adjustment for fractional shares based on the close sale price per share of the Common Stock on the Trading Day immediately preceding the Conversion Date. (c) Notwithstanding anything herein to the contrary, the right to convert the Securities pursuant to this ARTICLE IX shall terminate at the close of business on the Maturity Date. (d) The initial Conversion Rate shall be shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be subject to adjustment in accordance with Section 9.7 through Section 9.15. (e) A Holder may convert a portion of the principal amount of a Security if such portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Security.

Appears in 2 contracts

Sources: Indenture (Genta Inc De/), Indenture (Genta Inc De/)

Conversion Privilege; Restrictive Legends. (a) Subject to the provisions of ARTICLE IX, the Securities shall be convertible, at any time, in integral multiples of $1,000 principal amount, into shares of Common Stock in accordance with this ARTICLE IX. (b) The Company shall not issue fractional shares of Common Stock upon conversion. In the event of fractional shares, the Company shall pay a cash adjustment for fractional shares based on the close sale price per share of the Common Stock on the Trading Day immediately preceding the Conversion Date. (c) Notwithstanding anything herein to the contrary, the right to convert the Securities pursuant to this ARTICLE IX shall terminate at the close of business on the Maturity Date. (d) The initial Conversion Rate shall be _____ shares of Common Stock per $1,000 principal amount of Securities. The Conversion Rate shall be subject to adjustment in accordance with Section 9.7 through Section 9.15. (e) A Holder may convert a portion of the principal amount of a Security if such portion is $1,000 principal amount or an integral multiple of $1,000 principal amount. Provisions of this Indenture that apply to conversion of all of a Security also apply to conversion of a portion of such Security.

Appears in 1 contract

Sources: Indenture (Genta Inc De/)